University of California, Under Armour Agree to Apparel Contract

The University of California is joining the Under Armour movement, as the two parties have reached a long-term shoe and apparel deal. 

ESPN's Darren Rovell reported Cal's deal with Under Armour will pay the school $86 million over 10 years. Connor Letourneau of the San Francisco Chronicle confirmed the agreement.   

After the reports came out, Under Armour made the move official by welcoming California into the family:

Under Armour continues to make waves in the sports world, both at the college and professional levels. The apparel giant is still young compared to competitors like Adidas and Nike, which previously had a deal with the Golden Bears, being founded just 20 years ago. 

Rovell also pointed out the difference in total annual money Cal will receive from Under Armour compared to its previous deal with Nike:

In 2014, Notre Dame left Adidas to sign a 10-year deal worth nearly $90 million with Under Armour. California doesn't have the history Notre Dame does, particularly in football, but the two deals are so close in value that it's clear how valuable getting the Under Armour logo on a jersey instead of the Nike swoosh is.

Of course, Under Armour can afford to pay these huge deals thanks to Golden State Warriors superstar Stephen Curry. Per Matt Egan of CNN Money, the reigning league MVP has propelled the Baltimore-based company to huge sales gains in 2016:

"

Footwear sales at Under Armour surged 64% in the first three months of 2016 as sports fans gobbled up the Curry signature basketball line. Under Armour said Thursday that overall sales jumped by an impressive 30%, led by strong growth overseas.

Here's a stat even Curry, the 2015 NBA MVP, would be wowed by: Under Armour has now generated sales growth above 20% for each of the past 24 quarters.

"

Nike has been the top sports footwear and apparel company in the United States for decades. The Jordan brand being part of the family will always help keep it going strong. 

Under Armour's rise, though, opens things up for schools that are looking to increase their merchandise revenue stream. California knew its deal was coming up, found a company it wanted to work with and negotiated a great contract for itself.